Giving to your employees is one of the greatest ways to keep the hardworking, skilled individuals at your business working for you. Providing them with group health insurance and employee benefits is essential if they are to protect themselves from illness and prepare for their future after retirement. That’s why the percentage of California companies that offer group 401k plans has increased significantly in the passing years.
A group 401k plan is substantially more beneficial than having an IRA. IRA has stricter annual caps which make it impossible to contribute as much as you could through a flexible 401k plan. Up to $18,000 of pretax earnings can be invested into your group 401k plan annually. Only $5,500 can be contributed into an IRA.
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